The digital currency of the European Union

[Freemind]

After the news that reached us from China and then from the United States, the European Union seems to take a step forward in the creation of its own CBDC. The latest news indicates that the tests of the European digital currency will start soon and that a prototype will be available at the end of 2023, and that at the earliest it will be available in 2025. It seems that the development will be slow, as they are now focusing on the legal processes necessary to be able to launch this CBDC.

Do you think CBDCs will positively or negatively influence the crypto industry?. Or do you think everything will stay the same?.

[Senin]

While the Chinese authorities were going to officially introduce their digitized yuan at the opening of the current Olympic Games, which had been tested for quite some time before, the European Union is only taking steps to issue its digitized euro in 2025. Obviously a delay of at least three years. In my opinion, it was obvious earlier that the introduction of CBDC will significantly speed up and simplify the current non-cash payments, which have long been morally and financially outdated.
How this will affect the cryptocurrency is still difficult to say. As always, the effect will be twofold: in some ways positive, and in some ways negative.